OceanaGold Corporation (OGC)

Shares in gold miner
OceanaGold Corp
have soared over the past couple of days, rising to their highest level in over a year. The rise is a response to the spot gold price, which has increased in response to the US Federal Reserve’s announcement last week of a third round of quantitative easing, or QE3. The spot gold price is up more than 2.5 per cent since the announcement, supporting Australian gold companies. Oceana has been one of the star performers in the small resources sector in the year to date and the company is set to benefit from its Philippines operations over the coming year. IFM executive director Neil Carter expects the share price to trade higher in the near future, and says the market will be “pleasantly surprised" by the company’s developments. The stock was trading at $3.02 by midday on Monday, up 27¢ from a week earlier.